Voter Guide 2012: Obama vs. Romney on the Issues

With the elections just a week away, here's where President Obama and Governor Romney stand on some of the critical issues.

The two presidential candidates have put forth very different proposals on nearly every issue, and now it's up to voters to choose the path our country will take for years to come. From Medicare to education to budget deficits, here's where the candidates stand on 12 key issues:

The Issue

Barack Obama

Mitt Romney

Job Creation

The private sector is adding jobs at a slow rate, while government budget cuts bring layoffs.

Proposes $350 billion over several years for job creation through public works projects and other means.

No new initiatives.

Education

Looming budget cuts would reduce public investment in education from pre-kindergarten to research universities.

Obamacare will add 30 million Americans to the ranks of the insured. It will cut $119 billion from projected deficits by 2019, in part by levying a tax on “Cadillac” health insurance plans.

Would repeal Obamacare but proposes many of the same policies at the state level, including subsidies to buy private insurance and an insurance “exchange” to allow comparison between plans.

Medicare

Medicare is the federal health insurance program for elderly and disabled Americans. Due to the rise in health care costs as well as demographic changes, Medicare accounts for an increasingly large share of the federal budget.

Generates savings through administrative changes, including mandating efficiencies in private health insurance to save $500 billion over 10 years.

Proposes no changes for current seniors, while future retirees would receive a fixed amount of money to purchase private health insurance.

Medicaid

Medicaid is the health insurance program for low-income Americans and is jointly funded by the federal government and the 50 states. As health care costs rise and fewer Americans have employer-provided health care, Medicaid has grown as a share of federal and state budgets.

Expands Medicaid to all Americans below 133 percent of the poverty line. (Eligibility currently varies widely by state.)

Would convert Medicaid to a grant program to sharply reduce federal spending on health insurance for low-income Americans, reducing the number of Americans covered by Medicaid and allowing states discretion over if or how to implement the program.

Social Security

Social Security provides cash benefits to retirees and the disabled. After 2033 and with no changes, the program will be able to pay around 75 percent of scheduled benefits. Some changes to the program are necessary to guarantee full benefits to retirees and the disabled after 2033.

Does not provide this information, but expresses support for Rep. Ryan’s (R-WI) budget, with a projected deficit of $287 billion in FY2022.

Candidate positions taken from barackobama.com and mittromney.com. Budget data from the White House Office of Management and Budget, and the House Budget Committee.National Priorities Project is a nonprofit, nonpartisan federal budget research organization.